FINANCIAL ASPECTS OF UNIVERSITY SOCIAL RESPONSIBILITY IMPLEMENTATION

European strategic documents of the European Higher Education Area (EHEA), strategies and institutional practices of the Great Britain universities are analysed. The author found out that modern universities implement social responsibility in internal activities by improving institutional policies and practices, and external work, developing new methods of interaction with the community and influencing society. Universities financial sustainability is one of the mandatory factors in the strategy of universities and is considered as one of the goals or activators of the development and implementation of the main aims. The connection between social responsibility, financial and environmental sustainability of universities are established. Organizational models for the implementation of social responsibility in the universities of educational, scientific and governance activities are formed in accordance with the main aspects of social responsibility defined in ISO 26000: organizational governance; human rights; labour practices; the environment; fair operating practices; consumer issues; community engagement and development. The concept of the financial mechanism for the implementation of social responsibility of higher education institutions is defined as a set of methods and tools of financial regulation implemented at the expense of financial support, measured by financial indicators and reflected in institutional policies. Methods of financial regulation are classified: direct financial support, indirect financing, methods of expenditure regulation and investment policies. The indicators for assessing the implementation of social responsibility in the financial dimension are proposed. There are staff income level, the level of satisfaction, loyalty and involvement of the main stakeholders, the indicator of financial sustainability, and efficiency of the university's investments.